Agreement for negotiation and sale for VAL001
Respiratorius has signed an agreement with Partner International Inc. to complete the exit of VAL001. The assignment for Partner International is to work with already identified candidates as well as seek additional stakeholders to reach an agreement as soon as possible.
Since the start of the VAL001 exit process, the clinical study has been completed with strong results and we have received additional patent approvals that give a excellent patent position with approved patents in Europe, the USA, Japan and Korea. Furthermore, the European Medicines Agency (EMA) has, in scientific advice, made the assessment that VAL001 is ready for phase III and that a phase IIb does not have to be carried out in order to obtain Market Authorization Approval. All in all, this means a distinct improvement for the project during the last year, which has an Orphan Drug Designation in both Europe and the USA since before.
Respiratorius believes that the exit process is in a position where an agreement with an internationally renowned specialist in corporate development and out licensing is a natural next step. The agreement with Partner International Inc. entails a significant expansion of the number of stakeholders with whom a negotiation on the sale or out-licensing of VAL001 can take place.
Partner international (PI) is a global leader in corporate and business development for the life science industry with offices in the US, Canada, Australia and Switzerland. For over 20 years, Partner International has built a significant reputation in accelerating transactions for licensing, partnering, mergers and acquisitions, and divestitures in all therapeutic areas. Partner International represents companies of all sizes from startups to large multi-national Pharmas to advance their business development objectives. It has recently completed numerous licensing and partnering transactions focused in oncology and is well positioned to support Respiratorius.
President and CEO, Joanne Ball-Gautschi, Partner Internationalsaid “We are very pleased to be representing Respiratorius. VAL001 is a very exciting breakthrough cancer therapeutic and we expect significant response from the industry. The excellent Phase I/II clinical trial results show the strong potential VAL001 has for Diffuse Large B-Cell Lymphoma.”
"With the progress since we started the exit process, especially in the last few months, we want to increase our capacity and strengthen our negotiating position, why Partner International with an established brand and network is a natural choice," says CEO Johan Drott in a comment.
This information is such information that Respiratorius AB (Publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact person, for publication on April 23, 2019.
President Respiratorius AB
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Respiratorius AB (publ) is developing drug candidates with the goal to launch drugs for common diseases cancer, chronic obstructive pulmonary disease (COPD) and severe asthma. In addition, the project portfolio is a project for improved diagnosis of certain cardiovascular diseases.